Strategic Agreement Between Attijariwafa Bank and MadfoatCom to Accelerate Digital Transformation in the Arab World and Africa
Attijariwafa Bank Group has announced the signing of a strategic agreement with the Jordanian fintech company MadfoatCom, aimed at accelerating the pace of digital transformation in the Arab and African regions.
This initiative addresses the challenges associated with executing simple tasks such as paying water and electricity bills in many African and Arab economies. It represents a partnership between a prominent African bank and a startup from the Levant, redefining the financial services landscape through innovative, digital, simplified, and secured mechanisms.
Attijariwafa Bank and MadfoatCom will collaborate to develop advanced solutions for displaying and processing bills electronically. The goal is to make these services accessible and user-friendly for citizens and businesses outside elite circles or major urban centers, thus achieving greater financial inclusion.
Barakat Ali Al-Shanableh, Managing Director of MadfoatCom Morocco, stated that this collaboration represents a pivotal stage in expanding smart and secure payment solutions. His remarks reflect a shared ambition to build an interconnected financial space in the Arab and African regions that facilitates transactions and meets the needs of individuals and institutions.
This step comes to overcome the sluggishness of traditional banking systems in responding to digital changes. Attijariwafa Bank stands strong with 21,000 employees, 12 million customers, and a presence in 27 countries, including Côte d’Ivoire, Tunisia, France, Spain, and Qatar. The bank operates across diverse sectors such as insurance, credit, asset management, and financial intermediation, making it a pivotal player in the African financial landscape.
On the other hand, MadfoatCom, founded by Nasser Saleh, has processed over $100 billion in digital transactions. The company stands out for its flexibility in adapting to local regulations in various markets, promising to facilitate financial transactions with just one click.
At a time when digital aspirations are hindered by limited infrastructure and bureaucracy, this alliance reflects the beginning of a transformation that could redefine citizens’ relationships with banking services. This experience confirms that when banks step outside their traditional walls and serve the real needs of people, they can make a significant impact.
